Excess Line Placements Governing Standards
NY-ADR
12/19/07 N.Y. St. Reg. INS-40-07-00002-A
NEW YORK STATE REGISTER
VOLUME XXIX, ISSUE 51
December 19, 2007
RULE MAKING ACTIVITIES
INSURANCE DEPARTMENT
NOTICE OF ADOPTION
I.D No. INS-40-07-00002-A
Filing No. 1311
Filing Date. Nov. 29, 2007
Effective Date. Dec. 19, 2007
Excess Line Placements Governing Standards
PURSUANT TO THE PROVISIONS OF THE State Administrative Procedure Act, NOTICE is hereby given of the following action:
Action taken:
Amendment of Part 27 (Regulation 41) of Title 11 NYCRR.
Statutory authority:
Insurance Law, sections 201, 301, 2105, 2118 and art. 21
Subject:
Excess line placements governing standards.
Purpose:
To change the amount of funds required to be held in trust by alien excess line insurers and an association of insurance underwriters. The rule also requires the report required by section 27.14(f) to be certified by an actuary.
Text or summary was published
in the notice of proposed rule making, I.D. No. INS-40-07-00002-P, Issue of October 3, 2007.
Final rule as compared with last published rule:
No changes.
Text of rule and any required statements and analyses may be obtained from:
Andrew Mais, Insurance Department, 25 Beaver St., New York, NY 10004, (212) 480-2285, e-mail: [email protected]
Assessment of Public Comment
The agency received no public comment.
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